As the New York Times reported last week, many charitable foundations have been seriously affected by the collapse of the massive Ponzi scheme devised by New York investment advisor Bernard L. Madoff.
Madoff was, until his arrest, one of the most respected figures on Wall Street. For more than 30 years, his clients had enjoyed returns that were significantly higher than those of his competitors. Continue Reading Thank heaven El Pomar never met Madoff
Pierre de Coubertin, who launched the modern Olympics during 1896, envisioned games free from the scourge of nationalism, where athletes of all countries would come to engage in friendly competition.
And during the first decades of competition, the games often lived up to de Coubertin’s ideals, as young men competed against each other with no thought of material reward. All that changed during 1936 in Berlin. Continue Reading Dark underside of Olympic Games: Citizenship for sale